MLchartDataset catalogue

Sole proprietor

Term · Law · MLC-T-LAW-004584

A business structure in which an individual owns and operates the enterprise without forming a separate legal entity. The owner and the business are legally indistinguishable, meaning the owner assumes all personal liability for the company's debts and obligations. Profits and losses from the business are reported on the owner's personal income tax return, such as on Form 1040, Schedule C in the United States.

Table 1. Record
IdentifierMLC-T-LAW-004584
FieldLaw
Record as JSON 
{
  "id": "MLC-T-LAW-004584",
  "term": "Sole proprietor",
  "field": "Law",
  "definition": "A business structure in which an individual owns and operates the enterprise without forming a separate legal entity. The owner and the business are legally indistinguishable, meaning the owner assumes all personal liability for the company's debts and obligations. Profits and losses from the business are reported on the owner's personal income tax return, such as on Form 1040, Schedule C in the United States.",
  "url": "https://mlchart.com/terminology/law/sole-proprietor/"
}

Record 4,667 of 5,439 in Law terminology (MLC-0107). Request the full dataset.